May 01, 2024

Consider cyberhandbags. $3.8 million to improve cybersecurity by using behavioral cues

March 28, 2024
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With the successful completion of a late seed investment round, Think Cyber has raised £3 million, or roughly $3.8 million.

Fuel Ventures led the round, and the company has now received £3.6 million ($4.5 million) in total.

 

Security Week claims that Think Cyber is an expert in reducing employees' dangerous behavior. This strategy goes beyond conventional security measures to counteract scams like phishing. Redflags, the company's main offering, is a paid service that uses "nudging" to improve safe behavior. This approach is meant to be used in conjunction with technical controls and conventional education, emphasizing the promotion of constructive security behaviors as opposed to just pointing out destructive ones.

 

Nudging is the idea of gently urging people to do safer activities during crucial times, such clicking on external links or inputting passwords. Using psychological concepts that suggest positive reinforcement is more successful than stressing bad behavior, this proactive strategy seeks to develop positive habits. Redflags provides these gentle reminders in real time, right when users are about to make a security blunder.

 

The additional funds will be utilized to advance the development of Think Cyber's nudging technology with the goal of lowering internal and external risks such as improperly directed emails, careless password management, and unsecured use of general AI tools like ChatGPT. The investment is in line with the overarching concept of strengthening an organization's entire security posture from the inside out by implementing fundamental security hygiene.

 

Experienced Chief Information Security Officer (CISO) Robert Coles, who has worked with the NHS, GSK, and National Grid, commended Redflags for its efficacy. The limits of traditional phishing simulations and awareness efforts were emphasized by him, and he pointed out that Think Cyber's strategy of sending customized messages at crucial times might greatly improve security awareness and behavior.

 

In 2016, Tim Ward, the CEO, who had previously served as the worldwide head of information services at BAE Systems Applied Intelligence, and Mike Butler, the CTO, created Think Cyber. Redflags' original development was funded in part by research grants from InnovateUK, with the goal of transforming employees from the perceived weakest link in cybersecurity to a first line of defense.

 

Think Cyber raised a total of £3.6 million ($4.5 million) prior to this capital round, including the current investment, to further its goal of enhancing organizational security through behavioural change.

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